Incyte Corporation (INCY) - Net Assets
Based on the latest financial reports, Incyte Corporation (INCY) has net assets worth $5.15 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($6.96 Billion) and total liabilities ($1.80 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check INCY financial resilience to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $5.15 Billion |
| % of Total Assets | 74.08% |
| Annual Growth Rate | 19.75% |
| 5-Year Change | 36.73% |
| 10-Year Change | 1128.85% |
| Growth Volatility | 100.21 |
Incyte Corporation - Net Assets Trend (1993–2025)
This chart illustrates how Incyte Corporation's net assets have evolved over time, based on quarterly financial data. Also explore INCY asset base for the complete picture of this company's asset base.
Annual Net Assets for Incyte Corporation (1993–2025)
The table below shows the annual net assets of Incyte Corporation from 1993 to 2025. For live valuation and market cap data, see Incyte Corporation market capitalisation.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $5.15 Billion | +49.51% |
| 2024-12-31 | $3.45 Billion | -33.57% |
| 2023-12-31 | $5.19 Billion | +18.76% |
| 2022-12-31 | $4.37 Billion | +15.92% |
| 2021-12-31 | $3.77 Billion | +44.37% |
| 2020-12-31 | $2.61 Billion | +0.49% |
| 2019-12-31 | $2.60 Billion | +34.91% |
| 2018-12-31 | $1.93 Billion | +18.11% |
| 2017-12-31 | $1.63 Billion | +288.74% |
| 2016-12-31 | $419.47 Million | +145.08% |
| 2015-12-31 | $171.16 Million | +456.31% |
| 2014-12-31 | $-48.04 Million | +75.12% |
| 2013-12-31 | $-193.11 Million | -10.37% |
| 2012-12-31 | $-174.96 Million | +22.95% |
| 2011-12-31 | $-227.08 Million | -156.17% |
| 2010-12-31 | $-88.64 Million | +13.42% |
| 2009-12-31 | $-102.38 Million | +53.62% |
| 2008-12-31 | $-220.75 Million | -38.39% |
| 2007-12-31 | $-159.52 Million | -87.87% |
| 2006-12-31 | $-84.91 Million | -337.74% |
| 2005-12-31 | $-19.40 Million | -124.70% |
| 2004-12-31 | $78.52 Million | -49.12% |
| 2003-12-31 | $154.33 Million | -48.97% |
| 2002-12-31 | $302.41 Million | -31.30% |
| 2001-12-31 | $440.20 Million | -29.31% |
| 2000-12-31 | $622.69 Million | +265.65% |
| 1999-12-31 | $170.30 Million | -5.18% |
| 1998-12-31 | $179.60 Million | +28.56% |
| 1997-12-31 | $139.70 Million | +209.07% |
| 1996-12-31 | $45.20 Million | -3.42% |
| 1995-12-31 | $46.80 Million | +95.00% |
| 1994-12-31 | $24.00 Million | +49.07% |
| 1993-12-31 | $16.10 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Incyte Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 22226900000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $213.77 Million | 4.14% |
| Common Stock | $198.00K | 0.00% |
| Other Comprehensive Income | $25.46 Million | 0.49% |
| Other Components | $4.93 Billion | 95.37% |
| Total Equity | $5.17 Billion | 100.00% |
Incyte Corporation Competitors by Market Cap
The table below lists competitors of Incyte Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Vantage Towers AG
HM:VTWR
|
$19.29 Billion |
|
SNAM S.P.A. ADR 2
F:SNM0
|
$19.32 Billion |
|
First Quantum Minerals Ltd
TO:FM
|
$19.37 Billion |
|
China Tungsten and Hightech Materials Co Ltd
SHE:000657
|
$19.40 Billion |
|
EchoStar Corporation
NASDAQ:SATS
|
$19.28 Billion |
|
Telus Corp
TO:T
|
$19.28 Billion |
|
Vestas Wind Systems A/S
F:VWSA
|
$19.27 Billion |
|
Mirae Asset Daewoo Securities Co Ltd
KO:006800
|
$19.23 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Incyte Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 3,447,628,000 to 5,167,478,000, a change of 1,719,850,000 (49.9%).
- Net income of 1,286,650,000 contributed positively to equity growth.
- Share repurchases of 19,100,000 reduced equity.
- Other comprehensive income increased equity by 38,583,000.
- Other factors increased equity by 413,717,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.29 Billion | +24.9% |
| Share Repurchases | $19.10 Million | -0.37% |
| Other Comprehensive Income | $38.58 Million | +0.75% |
| Other Changes | $413.72 Million | +8.01% |
| Total Change | $- | 49.89% |
Book Value vs Market Value Analysis
This analysis compares Incyte Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 3.76x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 154.00x to 3.76x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1993-12-31 | $0.63 | $96.91 | x |
| 1994-12-31 | $0.86 | $96.91 | x |
| 1995-12-31 | $1.42 | $96.91 | x |
| 1996-12-31 | $1.13 | $96.91 | x |
| 1997-12-31 | $2.75 | $96.91 | x |
| 1998-12-31 | $3.11 | $96.91 | x |
| 1999-12-31 | $3.03 | $96.91 | x |
| 2000-12-31 | $9.85 | $96.91 | x |
| 2001-12-31 | $6.65 | $96.91 | x |
| 2002-12-31 | $4.49 | $96.91 | x |
| 2003-12-31 | $2.16 | $96.91 | x |
| 2004-12-31 | $1.05 | $96.91 | x |
| 2005-12-31 | $-0.23 | $96.91 | x |
| 2006-12-31 | $-1.01 | $96.91 | x |
| 2007-12-31 | $-1.89 | $96.91 | x |
| 2008-12-31 | $-2.46 | $96.91 | x |
| 2009-12-31 | $-0.99 | $96.91 | x |
| 2010-12-31 | $-0.73 | $96.91 | x |
| 2011-12-31 | $-1.81 | $96.91 | x |
| 2012-12-31 | $-1.35 | $96.91 | x |
| 2013-12-31 | $-1.30 | $96.91 | x |
| 2014-12-31 | $-0.49 | $96.91 | x |
| 2015-12-31 | $0.91 | $96.91 | x |
| 2016-12-31 | $2.16 | $96.91 | x |
| 2017-12-31 | $7.97 | $96.91 | x |
| 2018-12-31 | $8.93 | $96.91 | x |
| 2019-12-31 | $11.94 | $96.91 | x |
| 2020-12-31 | $11.97 | $96.91 | x |
| 2021-12-31 | $16.98 | $96.91 | x |
| 2022-12-31 | $19.51 | $96.91 | x |
| 2023-12-31 | $22.97 | $96.91 | x |
| 2024-12-31 | $16.38 | $96.91 | x |
| 2025-12-31 | $25.75 | $96.91 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Incyte Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 24.90%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 25.03%
- • Asset Turnover: 0.74x
- • Equity Multiplier: 1.35x
- Recent ROE (24.90%) is above the historical average (-13.33%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1993 | -30.43% | -1633.33% | 0.02x | 1.09x | $-6.51 Million |
| 1994 | -47.92% | -5750.00% | 0.01x | 1.20x | $-13.90 Million |
| 1995 | -21.58% | -82.79% | 0.21x | 1.24x | $-14.78 Million |
| 1996 | -15.04% | -16.27% | 0.62x | 1.48x | $-11.32 Million |
| 1997 | 7.12% | 11.76% | 0.46x | 1.32x | $-4.20 Million |
| 1998 | 1.95% | 2.60% | 0.59x | 1.28x | $-14.46 Million |
| 1999 | -15.74% | -17.07% | 0.71x | 1.30x | $-43.83 Million |
| 2000 | -4.78% | -15.31% | 0.22x | 1.42x | $-92.00 Million |
| 2001 | -41.63% | -83.57% | 0.31x | 1.60x | $-227.26 Million |
| 2002 | -45.26% | -134.71% | 0.18x | 1.83x | $-167.13 Million |
| 2003 | -107.86% | -353.48% | 0.12x | 2.46x | $-181.90 Million |
| 2004 | -209.91% | -1165.11% | 0.03x | 6.58x | $-172.67 Million |
| 2005 | 0.00% | -1313.32% | 0.02x | 0.00x | $-101.10 Million |
| 2006 | 0.00% | -268.30% | 0.08x | 0.00x | $-65.68 Million |
| 2007 | 0.00% | -252.27% | 0.12x | 0.00x | $-70.93 Million |
| 2008 | 0.00% | -4565.45% | 0.02x | 0.00x | $-156.84 Million |
| 2009 | 0.00% | -2286.78% | 0.01x | 0.00x | $-201.63 Million |
| 2010 | 0.00% | -18.75% | 0.35x | 0.00x | $-22.98 Million |
| 2011 | 0.00% | -197.49% | 0.29x | 0.00x | $-163.83 Million |
| 2012 | 0.00% | -14.92% | 0.90x | 0.00x | $-26.82 Million |
| 2013 | 0.00% | -23.43% | 0.56x | 0.00x | $-63.84 Million |
| 2014 | 0.00% | -9.48% | 0.62x | 0.00x | $-40.32 Million |
| 2015 | 3.82% | 0.87% | 0.75x | 5.89x | $-10.58 Million |
| 2016 | 24.85% | 9.43% | 0.67x | 3.91x | $62.28 Million |
| 2017 | -19.20% | -20.38% | 0.67x | 1.41x | $-476.20 Million |
| 2018 | 5.69% | 5.82% | 0.71x | 1.37x | $-83.10 Million |
| 2019 | 17.20% | 20.70% | 0.63x | 1.32x | $187.07 Million |
| 2020 | -11.32% | -11.09% | 0.75x | 1.36x | $-556.82 Million |
| 2021 | 25.16% | 31.76% | 0.61x | 1.31x | $571.58 Million |
| 2022 | 7.80% | 10.04% | 0.58x | 1.34x | $-96.35 Million |
| 2023 | 11.51% | 16.17% | 0.54x | 1.31x | $78.62 Million |
| 2024 | 0.95% | 0.77% | 0.78x | 1.58x | $-312.15 Million |
| 2025 | 24.90% | 25.03% | 0.74x | 1.35x | $769.90 Million |
Industry Comparison
This section compares Incyte Corporation's net assets metrics with peer companies in the Biotechnology industry.
Industry Context
- Industry: Biotechnology
- Average net assets among peers: $44,828,400
- Average return on equity (ROE) among peers: -124.18%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Incyte Corporation (INCY) | $5.15 Billion | -30.43% | 0.35x | $19.29 Billion |
| Aardvark Therapeutics, Inc. Common Stock (AARD) | $-54.64 Million | 0.00% | 0.00x | $118.88 Million |
| Abcellera Biologics Inc (ABCL) | $10.25 Million | -21.57% | 1.29x | $1.07 Billion |
| Abeona Therapeutics Inc (ABEO) | $3.60 Million | -91.89% | 0.28x | $292.09 Million |
| Acumen Pharmaceuticals Inc (ABOS) | $266.97 Million | -19.62% | 0.16x | $171.87 Million |
| Abpro Holdings, Inc. (ABP) | $3.07 Million | -479.81% | 1.57x | $448.19K |
| Absci Corp (ABSI) | $67.00 Million | -21.42% | 0.32x | $345.85 Million |
| Arbutus Biopharma Corp (ABUS) | $88.00 Million | -44.09% | 0.34x | $840.56 Million |
| ABVC Biopharma Inc (ABVC) | $80.00K | -31.70% | 0.38x | $26.41 Million |
| Abivax SA American Depositary Shares (ABVX) | $40.58 Million | -434.26% | 4.06x | $9.33 Billion |
| ACADIA Pharmaceuticals Inc (ACAD) | $23.36 Million | -97.44% | 0.37x | $3.74 Billion |
About Incyte Corporation
Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics in the United States, Europe, Canada, and Japan. The company offers JAKAFI for the treatment of myelofibrosis (MF), polycythemia vera, and steroid-refractory acute graft-versus-host disease; ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and Philadelphia-chr… Read more